Largest C-PACE deal in U.S. for 2018: $16.3M for Columbus project

Petros PACE Finance, LLC announced “the closing of a $16.3 million Commercial Property Assessed Clean Energy (C-PACE) transaction in Columbus, Ohio with UPH Holdings, LLC, an affiliate of Continental Hospitality Group and Concord Hospitality Enterprises,” according to a Business Insider press release. The deal, which “will fund eligible upgrades to a 354-room dual branded Marriott Hotel & Residence Inn” near The Ohio State University, is “the largest publicly-announced C-PACE deal in the country to date in 2018,” according to the release. Continental secured the C-PACE financing through the Columbus Regional Energy Special Improvement District PACE program; Bricker & Eckler LLP served as PACE counsel for the project. For more, read the full press release.